Dr. Dre’s Daisy Music Service Gets $60 Million Investment

Daisy, the streaming music service unveiled by Dr. Dre's Beats Electronics in January, has reportedly received a $60 million round of investment.

According to Tech Crunch, Beats confirmed the news in a press release, while revealing that "Daisy" is the internal codename for the project, which is set to launch in "late 2013," according to Beats.

The $60 million funding round was led by billionaire Len Blavatnik's Access Industries, along with Marc Rowan, James Packer and entities affiliated with Lee M. Bass. According to Beats, these investors bring "significant expertise in music and subscription business."

Details about the "Daisy" project are still scarce though.

News of the service came in January, following Beats' acquisition of digital music service MOG in 2012, which is part of Daisy.